BTC/USD - Long interest is skyrocketing, which is a bearish sign
Updated
In this chart you can see that BTC long interest on Bitfinex is skyrocketing, which is generally a contrarian indicator. Too many people appear to think that the bear market is already over. I think we may however see a substantial drop in the price of BTC in the time ahead, once the present short-term rally has no more legs and the bears take over once again.
Good luck trading.
Good luck trading.
Note
Long interest is nog again approaching all time high (ATH). We may see a sharp drop in BTC price fairly soon.
It is all Fibonacci.
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